Loan repayment calculator

Estimate your monthly payment and see how the balance changes.

Kenya and Uganda · No sign-up · Calculated in your browser

Start with these example figures, then enter your own.

Loan amount

Currency

KESUGX

Loan amount (KES)

Repayment terms

Interest rate (%)

Rate is quoted

Per monthPer year

Term (months)

Interest method

How is interest calculated?

Reducing balanceInterest on the remaining loan balance.Flat rateInterest on the original loan amount.

Repayment schedule

Monthly interest, principal and remaining balance.

Month	Interest	Principal	Instalment	Balance
1	KES 1,000.00	KES 7,884.88	KES 8,884.88	KES 92,115.12
2	KES 921.15	KES 7,963.73	KES 8,884.88	KES 84,151.39
3	KES 841.51	KES 8,043.37	KES 8,884.88	KES 76,108.02

This tool is an illustration calculated in your browser; nothing you enter is sent or stored. Your group’s own rules, your loan agreement and your regulator decide the real figures. SenteRail is software, not a lender, bank or adviser.

Reducing balance and flat rate

A reducing balance loan charges interest on the amount you still owe each month. As you repay principal, the interest part of the next instalment gets smaller. A flat rate loan charges interest on the original amount for the whole term, so the same stated rate costs noticeably more.

SACCOs and lenders quote rates in different ways, per month or per year, so choose the period you were quoted. A yearly rate is applied here as one twelfth each month.

What the calculator leaves out

Processing fees, insurance, stamp duty, penalties for late payment, and savings or guarantor requirements are not included. Your loan agreement governs the real cost, so add those from the agreement.

Keeping schedules with the member ledger

In the SenteRail Back Office a loan, its repayments and its guarantors sit on the same ledger as the member’s savings and statements, so the schedule a treasurer quotes is the one the member sees.

Questions about loan repayments

Short answers; your loan agreement has the final terms.

What is the difference between reducing balance and flat rate?

On a reducing balance loan, interest is charged on what you still owe each month, so the interest part of each instalment shrinks as you repay. On a flat rate loan, interest is charged on the original amount for the whole term, so the same stated rate costs more in total. Ask your SACCO or lender which one your loan uses.

Is 1% a month the same as 12% a year?

In this calculator, a yearly rate is applied as one twelfth each month, so 12% a year behaves like 1% a month. Some lenders compound differently or quote an effective annual rate, so check how your agreement states the rate.

Does the result include fees and insurance?

No. Processing fees, insurance, stamp duty, penalties and any savings or guarantor requirements are outside this calculation. Add them from your loan agreement.

Is anything I enter stored?

No. The schedule is calculated in your browser and nothing is sent to SenteRail or anyone else.

Run this on one shared record

SenteRail is the Back Office for officials and the Member App for members. Register your group, or read how it fits yours.